Hong Kong Private Wealth Management Report 2019 – Greater Bay Area

Hong Kong Private Wealth Management Report 2019 – Greater Bay Area


One of the key findings was that further exploiting the wealth being created in mainland China is a key growth opportunity for the Hong Kong private wealth management (PWM) industry Two-thirds of respondents said this was the key means of growth and many of them talked about the Greater Bay Area (GBA) as a means for exploiting that growth What are your views on that? GBA is definitely a very important Fast-growing market for PWM business We see the wealth accumulated in the GBA is leading to a much greater demand for more sophisticated financial services, structuring advisory and definitely free or more effective fund
movement What needs to be done by the industry to capitalise on this opportunity? For PWMA we are ready to work with Hong Kong and Mainland regulators as well as industry bodies to work out the possibility of a lot more cross-border product offerings, even product selling as well as talent training and development What else can individual PWM firms do? In fact we have seen some PWM firms they have been focusing on expanding their universal banking platform, put a lot of emphasis on developing their cross-border capabilities We also see innovation and technology development should be the top priority Even some of the traditional financial institutions they have been focusing on digitalisation and making use of technology to enhance their wealth management services We definitely hope we don’t need to wait too long before we see the cross-border scheme as suggested in the KPMG report that will make the GBA area one single wealth centre

Leave a Reply

Your email address will not be published. Required fields are marked *